Where's the gold price headed?, page-34

I read thearticle also, and although it didn’t suggest any potential suitors for NCM ,they would have to be fairly large to stump up the circa 14 billion or moreneeded.

However thepremise of the article was that it is far cheaper and quicker to find ounces of gold by buying a producing gold company than through exploration. Hence likely M and A activity in the gold sector.

TIE could behad far cheaper. I thought the T/O offer would come before first gold production , but no.

I stillthink there will be a T/O attempt in 2023 , though whether it will besuccessful is moot.

If Q1production looks good, and an increase in MRE is announced , then even morelikely.

Many of theAustralian based gold companies are now producing at reduced margins, due totheir much higher costs and lower head grades.

The West Africangold mines seem to be cash cows, with much bigger margins. Political risk hangsover their share prices somewhat , but they are still very attractive. Cote d’Ivoire, at least for now, seems to be one of the safer destinations for a mine, in a sovereign risk scenario.

Should be aninteresting year for TIE.